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Day: July 9, 2014
July 92014
Pound Stays Strong, Endangering UK Economy
The Great Britain pound fell at the first half of today’s trading session as another set of poor economic indicators was released. Yet the currency managed to bounce in the second half, trimming its losses against the euro and gaining on the US dollar and the Japanese yen. It looks like the sterling intends to keep its strength, making economists concerned. Strong currency is not necessarily what the recovering economy of the United Kingdom needs right […]
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July 92014
Dollar Slips as Fed Downplays Optimism
The US dollar slipped against some of its major peers today, including the euro and the Great Britain pound, and trimmed its gains versus the Japanese yen. The greenback was weakened by the Federal Reserve meeting minutes, which suggested that investors should not take economic recovery for granted. The Fed released minutes of its June meeting today. The minutes revealed that US policy makers are concerned that financial market […]
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July 92014
Euro Turns it Around After Earlier Difficulties
A little bit of risk appetite is helping the euro turn things around today after earlier difficulties. However, many analysts still foresee problems for the euro, as Germany leads the eurozone into a further period of little to no growth. Earlier today, the euro was struggling against its major counterparts. Now, though, things have turned around a little bit and the euro is mostly higher against these currencies. A bit […]
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July 92014
Could Copper Hold the Key to Loonie Performance?
Canadian dollar is higher today, and so are copper prices. While we often think of the loonie as a petrocurrency, the truth might be that it is really more closely related to copper — and that might be giving the Canadian dollar a boost today. Canadian dollar is heading higher today, thanks in part to the gains in some commodities. Even though oil is lower today, loonie is higher, following […]
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July 92014
Mixed Fundamentals Subdue Movement of Australian Dollar
The Australian dollar ticked up versus the Japanese yen today, trading sideways against its US counterpart at the same time. Signs of improving consumer confidence helped the Aussie, yet the currency was subdued by the news from China. The Westpac Melbourne Institute Index of Consumer Sentiment rose by 1.9 percent in July after rising 0.2 percent in June. Yet the report was not particularly optimistic, saying that “this is another […]
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July 92014
Yuan Holds Ground in Face of Poor Data
The Chinese yuan gained on the US dollar today even though macroeconomic reports from the Asian nation were not particularly good, feeding concerns about slowdown of the world’s second-biggest economy. China’s annual inflation slowed from 2.5 percent in May to 2.3 percent in June, being below the forecast value of 2.4 percent. The Producer Price Index fell 1.1 percent last month from a year ago. The data was less […]
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July 92014
EUR/USD Jumps as FOMC Warns Against Being Too Optimistic
EUR/USD jumped today after the Federal Open Market Committee released minutes of its June policy meeting, revealing that FOMC members were concerned that investors are too eager to take risk, disregarding possible dangers to economic recovery. This wording was in line with the previous comments of US policy makers, who were attempting to cool optimism among market participants. It hurt the dollar, which was […]
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